英语课件chap006.docx
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英语课件chap006.docx
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英语课件chap006
Chapter6
MerchandisingActivities
OverviewofExercises,Problems,Cases,
andinternetassignment
Exercises
Topic
Learning
Objectives
Characteristics
6–1
Usingaccountinginformation
1,6
Personal,conceptual
6–2
Effectsontheaccountingequation
1
Conceptual
6–3
Inventorycostflows
2,5,8
Conceptual,mechanical,analytical,real—PCConnection
6–4
Perpetualinventorysystems
3,8
Mechanical,analytical
6–5
Evaluatingperformance
6,8
Conceptual,real—Wal-Mart,Kmart
6–6
Year-endphysicalinventory
3
Mechanical,conceptual
6–7
Periodicinventorysystems
4
Mechanical,conceptual
6–8
Inventoryrelationshipsinaperiodicsystem
4
Conceptual,mechanical
6–9
Selectinganinventorysystem
5,8
Conceptual,analytical,real—Albertson’s,Inc.,Safeway,Inc.,KrogerCompany
6–10
Cashdiscounts
6
Mechanical
6–11
Evaluatingperformance
8
Conceptual,mechanical,real—RiteAidCorporation,CVSCorporation,WalgreenCompany
6–12
Comparinginventorysystems
3,4,5
Mechanical,conceptual
6–13
Periodicinventorysystems
4,5
Conceptual,mechanical
6–14
Usinganannualreport
8
Conceptual,mechanical,real—TootsieRollIndustries,Inc.
Problems
6–1
Evaluatingprofitability
1,3,8
Mechanical,analytical
6–2
Incomestatementpreparationandinterpretation
1,2,3,6,8
Mechanical,conceptual
6–3
Trendanalysis
8
Mechanical,conceptual
6–4
Recordingpurchasediscounts
3,6
Mechanical,conceptual
6–5
Merchandisingtransactions
3,6
Mechanical,conceptual
6–6
Acomprehensiveproblem
1–8
Mechanical,conceptual,analytical
Cases
Topic
Learning
Objectives
Characteristics
6–1
Selectinganinventorysystem
5
Conceptual,communication
6–2
Acost-benefitanalysis
4,8
Communication,analytical
6–3
Evaluatinginventorysystems
3,4,5,7
Conceptual,communication,groupassignment,analytical
BusinessWeekAssignment
6–4
BusinessWeekassignment
8
Conceptual,group,real—CVSCorporation
Internet
Assignment
6–1
EvaluatingtheGap
8
Internet,real—Gap,Inc.
Descriptionsofproblems,cases,
andinternetassignment
Belowarebriefdescriptionsofeachproblem,case,andtheInternetassignment.Thesedescriptionsareaccompaniedbytheestimatedtime(inminutes)requiredforcompletionandbyadifficultyrating.Thetimeestimatesassumeuseofthepartiallyfilled-inworkingpapers.
Problems
6–1
ClaypoolHardware
Introductiontobothperpetualinventorysystemsandfinancialstatementanalysis.Aftermakingjournalentriesformerchandisingtransactions,studentsareaskedtocomparethecompany’sgrossprofitratewiththeindustryaverageanddrawconclusions.
35 Medium
6–2
Hendry’sBoutique
Studentsprepareanincomestatementforasmallretailstoreusinginformationfromanadjustedtrialbalance.Usingthisincomestatement,theyareaskedtocomputethecompany’sgrossprofitmargin,evaluatecustomersatisfaction,interpretthemeaningofseveralaccounts,andidentifytheaccountsinthestore’soperatingcycle.
15 Easy
6–3
KnaussSupermarkets
Illustratesperformanceevaluationofamerchandisingcompanyusingchangesinnetsales,salespersquarefootofsellingspace,andcomparablestoresales.
20 Medium
6–4
LamprinoAppliance
Astraightforwardcomparisonofthenetcostandgrossinvoicepricemethodsofrecordingpurchasesofmerchandise.
30 Medium
6–5
SiogoShoesandSoleMates
Acomprehensiveproblemonmerchandisingtransactions.Alsoasksstudentstoevaluatewhetheritisworthwhiletotakeadvantageofa1/10,n/30cashdiscount.
30 Strong
6–6
CPI
Acomprehensiveproblemaddressingeverylearningobjectiveinthechapter.CloselyparallelstheDemonstrationProblem.
40 Strong
Cases
6–1
SelectinganInventorySystem
Studentsareaskedthetypeofinventorysystemtheywouldexpecttofindinvarioustypesofbusinessoperations.Leadstoanopen-endeddiscussionofwhydifferenttypesofbusinessesmaintaindifferenttypesofinventorysystems.Averypracticalproblem.
35 Medium
6–2
ACost-BenefitAnalysis
Usingthecompany’smarkuppolicy,studentsareaskedtodeterminetheamountofshrinkagelossincludedinthecostofgoodssoldinabusinessusingaperiodicinventorysystem.Havingdeterminedtheamountofloss,theythenareaskedtoevaluatetheeconomicbenefitofhiringasecurityguard.
25 Medium
6–3
InventorySystemsinPractice(groupassignment)
Studentsaretovisittwolocalbusinessestogainanunderstandingoftheinventorysystemsinuse.Theyarethenaskedtoevaluatethosesystemsintermsoftheinformationneedsandresourcesofthebusinesses.
Notimeestimate
BusinessWeekAssignment
6–4
BusinessWeekAssignment
Studentsareaskedtodiscusswhyprescriptiondrugplansmayreducethegrossmarginofagiantdrugstorechain.
15 Medium
InternetAssignment
6–1
EvaluatingTheGap
VisitthehomepageofGap,Inc.,andgatherfinancialinformationtoevaluatesalesperformance.
25 Easy
suggestedanswerstodiscussionquestions
1.
Theoperatingcycleofabusinessisthesequenceoftransactionsbywhichthecompanynormallygeneratesitsrevenueanditscashreceiptsfromcustomers.Inamerchandisingcompany,thiscycleincludes:
(1)purchasingmerchandise;
(2)sellingmerchandise,oftenonaccount;and(3)collectingaccountsreceivablefromcustomers.
2.
Bothwholesalersandretailersaremerchandisingcompaniesand,therefore,buytheirinventoryinaready-to-sellcondition.Wholesalers,however,buylargequantitiesofmerchandisedirectlyfrommanufacturersandthensellthismerchandiseinsmallerquantitiestomanydifferentretailers.Wholesalersusuallyoperatefromacentrallocationanddonotselldirectlytothefinalconsumer.Retailers,incontrast,buyfromwholesalersandthenresellthemerchandisetothefinalconsumer.
Insummary,wholesalersemphasizedistributionoftheproducttotheplaces(retailers)whereitisneeded.Retailersspecializeinmeetingtheneedsoftheirlocalcustomers.
3.
Thecostofgoodssoldappearsintheincomestatementofanybusinessthatsellsmerchandise,butnotintheincomestatementofabusinessthatsellsonlyservices.Thecostofgoodssoldrepresentstheoriginalcosttothesellerofthemerchandiseitsells.
4.
GreenBayCompanyisnotnecessarilymoreprofitablethanNewEnglandCompany.Profitabilityismeasuredbynetincome,notbygrossprofit.Foramerchandisingcompany(ormanufacturer)toearnanetincome,itsgrossprofitmustexceeditsexpenses(includingnonoperatingitems).GreenBay’sgrossprofitexceedsthatofNewEnglandby$70,000.However,ifGreenBay’soperatingexpenses(andnonoperatingitems)exceedthoseofNewEnglandbymorethan$70,000,NewEnglandisthemoreprofitablecompany.
5.
Revenuefromsalesamountsto$1,070,000(grossprofit,$432,000,pluscostofgoodssold,$638,000).Netincomeisequalto$42,000(grossprofit,$432,000,minusexpenses,$390,000).
6.
Generalledgeraccountsshowthetotalamountsofvariousassets,liabilities,revenue,andexpenses.Whilethesetotalamountsareusedinfinancialstatements,companypersonnelneedmoredetailedinformationabouttheitemscomprisingthesetotals.Thisdetailisprovidedinsubsidiaryledgers.Subsidiaryledgersareneededtoshowtheamountsreceivablefromindividualcustomers,theamountsowedtoindividualcreditors,andthequantitiesandcostsofthespecificproductsininventory.
7.
Inventoryshrinkagereferstothedecrease(shrinkage)ininventoryresultingfromsuchfactorsastheft,breakage,andspoilage.Inacompanyusingaperpetualinventorysystem,shrinkageismeasuredandaccountedforbytakingaphysicalinventoryandadjustingtheaccountingrecordstoreflecttheactualquantitiesonhand.
8.
Inaperpetualinventorysystem,ledgeraccountsforinventoryandthecostofgoodssoldarekeptperpetuallyup-to-date.TheInventoryaccountisdebitedwhenevergoodsarepurchased.Whensalesoccur,CostofGoodsSoldisdebitedandInventoryiscreditedforthecostofthemerchandisesold.Aninventorysubsidiaryledgerismaintainedshowingthecostandquantityofeverytypeofproductintheinventory.
Inaperiodicinventorysystem,up-to-daterecordsarenotmaintainedeitherforinventoryorforthecostofgoodssold.Thebeginningandendinginventoryaredeterminedbyaphysicalcount.PurchasesarerecordedinaPurchasesaccount,andnoentriesaremadetorecordthecostofindividualsalestransactions.Rather,thecostofgoodssoldisdeterminedbyacomputationmadeattheendoftheyear(beginninginventory,pluspurchases,minusendinginventory).
9.
(a)$51,500;(b)$65,000;(c)$49,800;(d)$61,600.
10.
Thestatementiscorrect.Aperpetualinventorysystemrequiresanentryupdatingtheinventoryrecordsaseachitemofmerchandiseissold.Inthedaysofmanualaccountingsystems,onlybusinessesthatsoldasmallnumberofhigh-costitemscoulduseaperpetualsystem.Forexample,perpetualinventorysystemswereusedinautodealershipsandjewelrystores,butnotinsupermarkets.
Today,point-of-saleterminalshavemadeperpetualinventorysystemsavailabletoalmosteverytypeofbusiness.Theseterminals“read”identificationcodesattachedtoeachitemofmerchandise;thecomputerthenlooksupboththesalespriceandthecostofthemerchandiseincomputer-basedfilesandrecordsthesaleinstantly.
11.
a.Ageneraljournaliscapableofrec
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